NYSE Euronext, a global operator of financial markets and provider of innovative trading technologies, is seeking to buy back up to $100 million in its common stock. Deutsche Boerse is also repurchasing some €100 million shares. This is a coordinated move to preserve the ownership of 40 percent and 60 percent, respectively, by former shareholders of NYSE Euronext and the German bourse pending their merger.
The NYSE Euronext buyback plan may begin after third quarter 2011 earnings are released on November 3, and will be closed in the fourth quarter of this year. The $100 million repurchase is being carried out under a $1.0 billion board authorization issued in March 2008 and suspended in the fourth quarter the same year.
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